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Sirona Biochem Corp. reports company developments tied to its cosmetic ingredient and drug discovery business, including its proprietary platform for stabilizing carbohydrate molecules. News for SRBCF centers on GlycoProteMim, the Sirona Laboratories cosmetics subsidiary, formulation and advisory relationships, private placement and debenture financing efforts, and the company’s efforts to commercialize patented active ingredients for skincare and dermatology applications.
Recent corporate updates also address Sirona’s financial condition, the cease trade order affecting the company, the orderly liquidation of its wholly owned TFChem subsidiary under French bankruptcy regulations, the closure of laboratory operations, and changes to prior commercialization arrangements involving TFC-1067.
Sirona Biochem (TSX-V: SBM) announced significant operational and financial challenges. The company's recent convertible debenture financing attempt failed to secure sufficient investor participation, following a similar unsuccessful attempt last year. The previously announced investment agreement with Promura GmbH has fallen through, with committed funds never materializing.
Due to financial constraints, Sirona has initiated the liquidation of its subsidiary TFChem, resulting in the permanent closure of laboratory operations. The company is under a cease trade order since March 7, 2025. Additionally, Allergan Aesthetics has withdrawn from the TFC-1067 license agreement originally announced in June 2022. Management is currently evaluating options for potential future development while operating without salaries.
Sirona Biochem Corp. has partnered with Stonegate Healthcare Partners to evaluate its anti-aging ingredient GlycoProteMimTM. Stonegate is a Dallas-based corporate advisory firm providing research-driven business development and investor outreach services. The partnership aims to assess and demonstrate the market potential of GlycoProteMimTM in the global anti-aging skincare industry.
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Sirona Biochem Corp (OTC: SRBCF) announced strategic corporate changes following an exclusive global licensing agreement with Allergan Aesthetics. The Board is reviewing all company aspects, including management and project pipeline, aiming for sustainable growth. Additionally, organizational enhancements will occur in Vancouver and Rouen, France, to expedite project development. Sirona plans to strengthen its market presence, enhance investor relations, and pursue up listing opportunities. Continuous updates on these initiatives will be provided throughout 2022.